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of <h1>Winding-up petition dismissed due to genuine dispute on outstanding dues</h1> <h3>Rainbow Enterprises Versus India Brewery & Distillery Ltd.</h3> The court dismissed the winding-up petition under section 433(e) of the Companies Act, 1956, as there was a genuine dispute between the parties regarding ... Winding up – Company when deemed unable to pay its debts The petitioner sought winding up of the respondent-company under section 433(e) of the Companies Act, 1956 due to outstanding dues. The respondent claimed sub-standard quality of goods and raised objections to the debt. The court rejected the petition as there was a bona fide dispute between the parties regarding the debt. The petition was dismissed.
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